Top Crypto News: 07/05

After making a daily high of $36,006, Bitcoin underwent a correction and is trading at $34,100. BTC is trying to sustain the crucial support of $33,500. However, if BTC is unable to hold this support, then the next targets are the $32,000 and $31,000 regions. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading close to $2,228.

Let’s find out some interesting crypto news in detail for today.

1- Ethereum Active Addresses Surpass Bitcoin’s Amid EIP-1559 Upgrade

The second-largest cryptocurrency, Ethereum, reached a major milestone by surpassing Bitcoin in terms of the total number of daily active addresses. Moreover, the active addresses show the total number of senders and receivers for a particular token. As per the tweet by Santiment, Ethereum had reached 757,859 active addresses for the first time in comparison to Bitcoin, which had 708,705, last week.

The Ethereum platform is very flexible and has a wide range of use cases such as non-fungible token (NFT) auctions, decentralized finance (DeFi) apps, and more. As per Coingecko, its market dominance increased to over 17%. In addition, Ethereum’s Improvement Proposal (EIP)-1559 is set to be introduced sometime in July, which is also fueling its adoption.

2 – OpenOcean Taps Strategic Investment From Huobi Ventures Blockchain Fund

OpenOcean has announced it will tap a strategic investment from Huobi Ventures Blockchain Fund. Moreover, OpenOcean is a leading full aggregator that gives access to crypto trading and pools liquidity for both DeFi and CeFi. As a DeFi aggregator, OpenOcean will launch cross-chain protocol aggregation, supporting cross-chain swaps with the best price.

In addition, OpenOcean will aggregate more CeFi and DeFi products such as derivatives, lending, and insurance products. Further, these innovative solutions would benefit users with higher capital efficiencies and lucrative profits from enhanced trading strategies. The team also stated that the OpenOcean protocol has reached a major milestone with over 200k active unique addresses. Following with over 730k total transactions, which amounts to roughly $2 billion USDT in transaction volume.

3- Litentry | MathChain Partnership to Boost Its DID Adoption in the DeFi Wallet

Litentry has partnered with MathChain to expand its DID adoption in the DeFi wallet. MathChain is the Layer 2 Polkadot smart wallet parachain based on Substrate. While Litentry is a cross-chain identity aggregation protocol that connects identity computation across multiple networks. Collaboratively, the team will explore new opportunities to embrace Decentralized Identity (DID) in DeFi and cross-chain markets. In turn, Litentry users can get access to MathChain’s diversified identity data.

Notably, the Litentry team will develop a new interface, which will have features such as identity aggregation, displaying a user’s NFT collection, rewarded metals, and more. Besides this, Litentry will also integrate MathChain’s identity data into Litentry Network. This integration would turn the DeFi user profile of MathWallet into verifiable credentials and be a more reliable source of data for decentralized applications.

4 – NFTify Unveils Its Big Launch in July With Compelling Features

NFTify has revealed its big launch in July. As per the tweet, the team has implemented exciting new features. These features include profile settings, customized category settings, order customization with users’ choice of currencies, and more.

NFTify is a one-stop-shop to design an influential NFT marketplace and brand. It is a next-generation NFT e-commerce platform, which helps in highly secure, transparent, and copyright-protected NFT transactions. Hence, these lucrative features would uplift its platform and expand its adoption.

5- Sentinel’s dVPN Network Live on Cosmos With Enhanced Features

In the last bit of crypto news for today, we have Sentinel announcing its dVPN network is live on Cosmos. As per the tweet, this decentralized virtual private network (dVPN) is launched with over 20 community members hosting exit nodes based on WireGuard.

The Sentinel Network is a decentralized peer-to-peer (P2P) bandwidth marketplace. Sentinel integrates with any blockchain or dApp to provide users with both privacy and censorship resistance. With this upgrade, the new dVPN network on Cosmos can be used through the command-line interface (CLI). This upgrade would further enhance its privacy and rewards features. Additionally, the team also has plans to launch its fully-fledged desktop applications.

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